Egypt is considering building a new station to produce electricity from solar energy with a yearly capacity of 1 GW, according to a press release issued by the Ministry of Investment and International Cooperation on Wednesday.
The plan also includes building a new factory to produce solar panels from silica sand, which will be used in setting up the new station, according to the statement.
No further financial details of the project were disclosed.
The Egyptian government is investing billions of dollars into renewable energy projects in order to facilitate the development of wind and solar power plants across the country.
Egypt has committed to increasing its share of renewables in the country’s power mix to 20% by 2022 and 37% by 2035.
At present, the nation only sources around 3% of its electricity generation from renewables.
To achieve its ambitious targets, the government plans to invest heavily in the renewable energy sector and to develop wind and solar energy plants across the country.
A number of projects are scheduled for development in the Western Desert, on the North Coast, and near the Suez Canal.